Gilman Hill Asset Management LLC Sells 400 Shares of Alphabet Inc. (NASDAQ:GOOG)

Gilman Hill Asset Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,615 shares of the information services provider’s stock after selling 400 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $2,127,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Fermata Advisors LLC raised its stake in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after acquiring an additional 259 shares in the last quarter. Sugar Maple Asset Management LLC raised its stake in shares of Alphabet by 10.9% in the 1st quarter. Sugar Maple Asset Management LLC now owns 1,522 shares of the information services provider’s stock valued at $238,000 after acquiring an additional 150 shares in the last quarter. Channel Wealth LLC raised its stake in shares of Alphabet by 4.2% in the 1st quarter. Channel Wealth LLC now owns 46,622 shares of the information services provider’s stock valued at $7,284,000 after acquiring an additional 1,897 shares in the last quarter. Park Edge Advisors LLC raised its stake in shares of Alphabet by 2.4% in the 1st quarter. Park Edge Advisors LLC now owns 7,142 shares of the information services provider’s stock valued at $1,116,000 after acquiring an additional 169 shares in the last quarter. Finally, Long Run Wealth Advisors LLC raised its stake in shares of Alphabet by 19.3% in the 1st quarter. Long Run Wealth Advisors LLC now owns 23,807 shares of the information services provider’s stock valued at $3,719,000 after acquiring an additional 3,847 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $169.39 on Thursday. The stock’s fifty day simple moving average is $161.29 and its 200 day simple moving average is $176.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOG shares. JPMorgan Chase & Co. raised their target price on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. UBS Group lowered their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.